BUYER GUIDE

A GUIDE to TRANSITIONING INTO HOMEOWNERSHIP

COMMON FAQ’s

Appraisals & Market Value

  • Are there standard ways to determine how much a home is worth?Read More
  • How do you determine how much a home is worth? Read More
  • What about appraised value and market value? Read More
  • What is the difference between list price and sale price? Read More

Closing Costs

  • Is there anything I should know about closing day? Read More
  • What are closing costs? Read More
  • Is it possible to save on closing costs? Read More

Getting Started

  • How do you decide whether to add on to an existing home or purchase a new one? Read More
  • How much can I afford? Read More
  • Is it best to save for the ultimate dream home or begin with a less expensive starter home? Read More
  • What are the advantages of owning a home?Read More
  • What are the advantages of owning a home?Read More
  • What is the first step to buying a home? Read More

Home Inspections

  • Do I need to be at the inspection? Read More
  • How do I select a home inspector? Read More
  • Should I hire a home inspector? Read More
  • What does a home inspector do? Read More

Insurance

  • Is private mortgage insurance necessary? Read More
  • What about title insurance? Read More
  • What does homeowners’ insurance cover? Read More
  • What is condo and co-op insurance? Read More
  • What kind of home insurance should I get? Read More

Lease Options

  • How does a lease option work? Read More
  • What is a lease option? Read More

Negotiating & Closing the Best Deal

  • Are low-ball offers a good idea? Read More
  • Can you negotiate interest rates? Read More
  • Do I need an attorney to buy a home? Read More
  • Does the seller take the furnishings once the home is sold? Read More
  • Is it possible to buy a home below market price? Read More
  • What are some negotiating tips? Read More
  • What contingencies should appear in the offer? Read More

Property Taxes

  • Are impound accounts required for all mortgage loans? Read More
  • Are property taxes deductible? Read More
  • Can I contest my property taxes? Read More
  • How are individual tax bills figured? Read More
  • What is an impound account? Read More
  • Why do homeowners have to pay property taxes? Read More

Tax Matters

  • Are fees and assessments owed a homeowner’s association deductible Read More
  • Are there tax credits for first-time homebuyers? Read More
  • Are up-front fees and closing costs deductible? Read More
  • How can owning a home pay off at tax time? Read More

Working with a Real Estate Agent

  • Are buyers protected against housing discrimination? Read More
  • Can I use an agent to purchase a newly built home? Read More
  • What can I expect from a good real estate agent? Read More
  • What is the best way to find a real estate agent? Read More
  • Why do I need an agent if I can find a home by myself on the Internet? Read More

WHERE AND WHAT TO BUY

Condominiums & Townhomes

  • Are condos good investments? Read More
  • How do townhouses differ from condominiums? Read More
  • How do you choose a good condo? Read More
  • What are the pros and cons of owning a townhouse? Read More
  • What is a condominium? Read More
  • Why buy a condo? Read More

Co-ops

  • What are co-ops? Read More
  • What are the benefits of having a co-op? Read More

Fixer-Uppers

  • Are special tax breaks available for historic rehabilitation? Read More
  • How can I finance work needed on a fixer-upper?Read More
  • Does the federal government offer home improvement programs?Read More
  • How do I determine the value of a distressed property? Read More
  • Is buying one a good idea in “bad” areas? Read More
  • What about state and local governments? Read More
  • What guidelines should I use to find a contractor? Read More
  • What kind of return can I expect from home improvements? Read More
  • Where can you find fixer-uppers? Read More

Foreclosures

  • How do I find government-repossessed properties? Read More
  • What about guidelines for VA foreclosures? Read More
  • What are some of the guidelines for purchasing HUD foreclosures? Read More
  • What are the disadvantages of buying foreclosures? Read More
  • What causes a foreclosure? Read More
  • What happens at a trustee sale? Read More
  • Where can I find foreclosure properties? Read More

 

New Homes & Vacation Homes

  • Can you negotiate the price of a new home? Read More
  • Do builders provide financing? Read More
  • Should I buy a vacation home? Read More
  • Should I hire a home inspector for a new home? Read More
  • What about a vacation home as an investment? Read More
  • What else should I take into account when buying a new home? Read More

Where to Buy

  • Why is location so important? Read More